Q.906 How to send money from India to Philippines . . .
Wanna clarify.. A friend from india cannot be able to send money in Philippines? through bank transfer? But able to send from philippines to india. Why is that? Jane Bada Answer: Due to currency regulations in India, sending money out of India requires some documentation to be completed before money can be sent out of India. Although up to one million US Dollars can be sent out of India every financial year, there are some rules and regulations that apply. The best method of sending money out of India to a foreign country is through your bank. Up to US$ 25,000 per financial year per person falls into the ‘Small Value Remittance’ category. Generally the documentation required to send money out of India is: • Application cum Declaration Form - Most banks will have their own version of this Form - Sample Form HERE • Copy of the senders PAN card • Form 15 CA and 15 CB as applicable
Disclaimer: Information provided is for general knowledge only and should not be deemed to be professional advice. For professional advice kindly consult a professional
accountant, immigration advisor or the Indian consulate. Rules and regulations do change from time to time. Please note that in case of any variation between what has been
stated on this website and the relevant Act, Rules, Regulations, Policy Statements etc. the latter shall prevail.
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Q.906 How to send money from
India to Philippines . . .
Wanna clarify.. A friend from india cannot be able to send money in Philippines? through bank transfer? But able to send from philippines to india. Why is that? Jane Bada Answer: Due to currency regulations in India, sending money out of India requires some documentation to be completed before money can be sent out of India. Although up to one million US Dollars can be sent out of India every financial year, there are some rules and regulations that apply. The best method of sending money out of India to a foreign country is through your bank. Up to US$ 25,000 per financial year per person falls into the ‘Small Value Remittance’ category. Generally the documentation required to send money out of India is: • Application cum Declaration Form - Most banks will have their own version of this Form - Sample Form HERE • Copy of the senders PAN card • Form 15 CA and 15 CB as applicable
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